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Brevard County/Melbourne/32934

32934

ZIPSAFMR
Brevard County, FL
Zillow

ZIP Investment Score

68Below average

095130300
BRFMR
Eff. Rent
0 BR$1,620$1,250
1 BR$1,860$1,370
2 BR$2,170$1,920
3 BR$2,900$2,120
4 BR$3,300$2,540
5 BR$3,795Not available
6 BR$4,364Not available
7 BR$5,019Not available
8 BR$5,772Not available

Purchase Price Calculator

Maximum purchase price
$223,395

Cost breakdown

+Likely effective rent$1,920
HUD FMR$2,170
Market rentUsed$1,920
Est. payment standard (93%)$2,010
-Principal and interest-$1,130
Loan amount$178,716
Down payment$44,679
Rate6.50%
Term30 years
-Operating costs-$590
Property taxes-$223
Insurance-$175
Utilities$0
HOA$0
Management-$192
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$30,780(68.9% ROI)
Projected value
$240,572
Return breakdown
Property appreciation+$17,177
Loan principal paid down+$6,403
Rental cash flow+$7,200
5-year hold
+$52,774(118.1% ROI)
Projected value
$252,751
Return breakdown
Property appreciation+$29,356
Loan principal paid down+$11,418
Rental cash flow+$12,000
10-year hold
+$113,777(254.7% ROI)
Projected value
$285,964
Return breakdown
Property appreciation+$62,569
Loan principal paid down+$27,207
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.30
1 BR
1.36
2 BR
1.13
3 BR
1.37
4 BR
1.30
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 32934 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 32934 (Melbourne, FL) is $2,170 a month. That is up 2.4% from $2,120 in FY 2026. Melbourne is in the Palm Bay-Melbourne-Titusville, FL MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 45 ZIP codes in Brevard County, 32934 has the 4th-highest two-bedroom rent (county range $1,250–$2,420). The median county two-bedroom FMR in Florida is $1,474, so ZIP 32934 is 47% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 32934
BedroomsFY 2027Change90–110% range
Studio$1,620+3.2%$1,458–$1,782
1BR$1,860+1.6%$1,674–$2,046
2BR$2,170+2.4%$1,953–$2,387
3BR$2,900+0.3%$2,610–$3,190
4BR$3,300+0.6%$2,970–$3,630

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 32934
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,620$1,860$2,170$2,900$3,300
FY 2026$1,570$1,830$2,120$2,890$3,280
FY 2025$1,490$1,750$2,030$2,760$3,160
FY 2024$1,280$1,510$1,780$2,410$2,810
FY 2023$1,230$1,460$1,760$2,350$2,790

Two-bedroom rent in nearby Brevard County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 32934
32924$1,780−18.0%
32925$2,420+11.5%
32926$1,570−27.6%
32927$1,670−23.0%
32931$1,870−13.8%
32932$1,780−18.0%
32934Current$2,170—
32935$1,820−16.1%
32936$1,780−18.0%
32937$2,120−2.3%
32940$2,320+6.9%
32941$1,780−18.0%

Questions about ZIP 32934 rents

How much will Section 8 pay for a two-bedroom in ZIP 32934?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,170, that basic range is $1,953 to $2,387 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 32934 in?

ZIP 32934 is in the Palm Bay-Melbourne-Titusville, FL MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 32934 for FY 2027?

The two-bedroom FMR rose 2.4%, from $2,120 in FY 2026 to $2,170 in FY 2027. Since FY 2023 it has risen 23.3%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentMelbourne, FL fair market rentFL statewide rentsWhat is SAFMR?Data sources